Section 89 | De-grouping charges.

(1)In section 179(4) of the Taxation of Chargeable Gains Act 1992 (time at which de-grouping charges accrue), for the words from “as follows” onwards there shall be substituted

(a)the time immediately after the beginning of the accounting period of that company in which or, as the case may be, at the end of which the company ceases to be a member of the group; and

(b)the time when under subsection (3) above it is treated as having reacquired the asset;

(2)This section shall have effect in relation to accounting periods ending after the day appointed for the purposes of section 180(1)(b) of that Act.